Mastercard and TeamApt partner to expand African digital payments

Mastercard and TeamApt Limited, a subsidiary of Moniepoint, have entered a strategic collaboration to expand digital payment capabilities across Africa. Through this partnership, TeamApt will operate directly on Mastercard’s global payments network as a non-bank acquirer.

The integration aims to provide licensed entities with seamless payment acceptance, transaction processing, and acquiring services across mobile, online, and in-store channels. This move is intended to bring more micro, small, and medium-sized enterprises (MSMEs) into the formal digital economy, particularly in Nigeria, where an estimated 40 million such businesses exist.

By connecting TeamApt’s switching infrastructure with Mastercard’s network, merchants will be able to accept Mastercard cards issued worldwide. This is expected to facilitate cross-border trade and help local businesses access credit histories and larger customer bases. TeamApt CEO Dennis Ajalie noted that the deal is a step toward removing barriers in the payments ecosystem, while Mastercard’s West Africa Country Manager, Folasade Femi-Lawal, emphasized that expanding acceptance is a key way to help African small businesses compete and grow.